Financial Accounting Ch 1 Dj

who gives you capital – investors, own pocket, loans
draw up a budget – einen Finanzplan aufstellen
Balance sheet – the accounts payable account would be shown on the
Any linear cost function can be graphed by knowing only the slope coefficient. – False
64. If total change in cash = $44,000, net operating cash flows = $22,000, and net investing cash flows = ($13,000); then net financing cash flows =
A. $15,000.
B. $25,000.
C. $35,000.
D. $45,000. – C. $35,000.
Accrual-basis accounting – accounting basis in which companies record, in the periods in which the events occur, transactions that change a company's financial statements, rather than in the periods in which the company receives or pays cash
On April 2, Gatlin Company decides to establish a $125.00 petty cash fund to relieve the burden on Accounting.   (a) Journalize the establishment of the petty cash fund.   (b) On April 10, the petty cash fund has receipts for mail and postage of $43.50, contributions and donations of $29.50, meals and entertainment of $38.25, and $13.55 in cash. Journalize the replenishment of the petty cash fund.   (c) On April 11, Gatlin Company decides to increase petty cash to $200.00. Journalize this event.  Enter your answers in the Text Box below.
dishonored check: a check that a bank refuses to pay – dishonored check: a check that a bank refuses to pay
Liabilities – Probably future obligations to pay assets. A company's debt. has a legal priority to de repaid
bad debts expense/uncollectible accounts expense/loss form uncollectible accounts – accounts receivable that are uncollectible
Cash discount – A deduction that a vendor allows on the invoice amount to encourage prompt payment
Owner's Equity, Balance Sheet, Credit, Permanent – Preferred Stock
On April 2, Gаtlin Cоmpаny decides tо estаblish a $125.00 petty cash fund tо relieve the burden on Accounting.   (a) Journalize the establishment of the petty cash fund.   (b) On April 10, the petty cash fund has receipts for mail and postage of $43.50, contributions and donations of $29.50, meals and entertainment of $38.25, and $13.55 in cash. Journalize the replenishment of the petty cash fund.   (c) On April 11, Gatlin Company decides to increase petty cash to $200.00. Journalize this event.  Enter your answers in the Text Box below.
stag – an investor who buys and sells stocks rapidly usually to make profits quickly
Return on Sales Ratio – Net Income / Net Sales

Higher is better. Measures profitability.

accumulated depreciation – total dollar amount that an asset has depreciated
yo-yo stock – a stock with a price that often rises and often drops rapidly
financial accounting – focuses on reporting information to external users

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